Textiles? Gone

Light industrial? Gone

Regional banks? Dying

Local banks? Dead

Small retail? Dead

Dairy agriculture? Dying

Family agriculture? Dead

I grew up in a small town. 20 operating farms circa 1990. 2 today. 3 agricultural/equipment dealers, today 0. 5 small/medium manufacturers... 1 today, because of a military contract. School enrollment? -25%.

I watched the beginning of decline when I was in high school. There is no anchor businesses that sustain local economies, and no access to capital. Without government spending, either indirect or direct transfer payments, a shockingly high number of US localities would be in a state of complete implosion.